JIMENEZ, Abeygail B.

DEVECON
1AMA

2 APPROACHES ADVANTAGES DISADVANTAGES

Rostow’s Linear Stages Model ● It shows the ● Many economists

economic think the model works
development in only for Western
countries countries.
● It shows what stages ● It only shows the
the countries are in. economic growth of a
● It is still one of the country.
most widely cited ● It does not issue other
development developments in a
countries. wider context only in
● It is a primary economic.
example of the ● It has a strong bias
intersection of towards a western
geography, model of
economics and modernisation.
politics.

Chenery Patterns of ● Agriculture sector ● Industrial sector

Development wage rate start attracts labor from
increasing agriculture sector.
● The profits ● The expansions
generated by ultimately absorb all of
industrial sector the agriculture labor.
results in expansion ● It also assumes that
of country. the wages in the
● An advanced manufacturing sector
manufacturing sector are more or less fixed.
means an economy
has moved from a
traditional to an
industrialized one

Sources:

https://www.slideshare.net/expattam/rostows-stages-of-developement
https://prezi.com/ax0z4qnnu_j5/rostows-model/
https://www.slideshare.net/rehan23may/lewis-theory-of-economic-development